$650M ETH whale: liquidation risk on Hyperliquid
A wallet on Hyperliquid holds a $649 million long position on Ethereum. With the price below the entry level, the risk of liquidation and a possible domino effect on the crypto market increases.
Ethereum is a decentralised, open-source blockchain platform that allows developers to create and deploy smart contracts and decentralised applications (dApps). Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum offers more than just cryptocurrency transactions as it provides a programmable blockchain where users can create complex, autonomous contracts without the need for intermediaries.
69 PostsA wallet on Hyperliquid holds a $649 million long position on Ethereum. With the price below the entry level, the risk of liquidation and a possible domino effect on the crypto market increases.
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In a sign of systemic stress, digital asset treasury (DAT) companies such as FG Nexus and ETHZilla liquidate millions of Ethereum to buy back shares at a steep discount to NAV.
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Tom Lee's BitMine strategically accumulates 72,000 ETH ($281M) in the recent crash, bringing its holdings to 3.03M ETH. The institutional accumulation pushes exchange reserves to lows. Tom Lee and Arthur Hayes predict massive price increases, seeing ETH between $10,000 and $15,000.

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